Trade in gaming stock increases

FROM THE ARCHIVE

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WEDNESDAY, SEPTEMBER 11, 2002

Shares in a casino game company who lost a challenge against federal Indian gaming regulators were down about 5 percent at mid-day.

Multimedia Games Inc. (NASDAQ: MGAM) of Texas was trading at $18.00 as of 1 p.m. EDT. Volume of shares traded increased by three-fold compared to the day prior.

A federal judge on Monday dismissed the company's suit against the National Indian Gaming Commission over the MegaNanza devices. Multimedia chairman and chief executive officer Gordon T. Graves said the company wasn't informed of the decision until yesterday evening.

"We expect more information to become available shortly regarding the appeal process, the preliminary injunction status, and any actions the NIGC might wish to take or be able to take regarding MegaNanza," he said.

Herb Greenberg, a columnist for TheStreet, questions why it took Multimedia more than 24 hours to inform investors and shareholders of the decision. "Wasn't its attorney made aware of the ruling when it occurred?" he wrote today. "Multimedia officials couldn't be reached."

Get the Story:
Herb Greenberg: Multimedia Games Slow to Share Setback News (TheStreet 9/11)

Today on Indianz.Com:
Judge tosses casino game lawsuit (9/11)

Discussion on Multimedia:
Yahoo! Finance Message Board

Relevant Links:
Multimedia Games - http://www.multimediagames.com
National Indian Gaming Commission - http://www.nigc.gov